Narayana Health Explained

Narayana Health
(Narayana Hrudayalaya Limited)
Type:Public
Traded As:
Founder:Devi Shetty
Hq Location City:Bangalore
Hq Location Country:India
Num Locations:24 hospitals, 7 heart centres
Industry:Healthcare
Products:Hospitals, Pharmacy, Diagnostic centres
Area Served:India & Cayman Islands
Key People:Devi Shetty (Chairman)
Emmanuel Rupert (MD & Group CEO)[1]
Viren Shetty (Executive Vice Chairman)[2] [3]
Revenue: (FY24)[4]
Operating Income: (FY24)
Net Income: (FY24)
Num Employees:19,214 (2024)

Narayana Health (formerly known as Narayana Hrudyalaya) is an Indian for-profit private hospital network headquartered in Bangalore.[5] It was founded by Dr. Devi Shetty in the year 2000.[6] [7] [8]

Narayana Health operates several hospitals and heart centres across major Indian cities Bangalore, Delhi, Gurugram, Kolkata, Ahmedabad, Raipur, Jaipur, Mumbai, Mysore etc. with an international subsidiary in the Cayman Islands.[9] The facilities offer medical care in over 30 medical specialties and three of its hospitals – Narayana Institute of Cardiac Sciences, Bangalore, and Health City Cayman Islands – are JCI (Joint Commission International) accredited.[10]

History

Devi Shetty founded Narayana Hrudalaya (NH) in the year 2000 with a 280-bed heart hospital[11] in Bangalore.[12] [13]

In 2013, Narayana Hrudyalaya officially changed its identity to Narayana Health.[14] Since 2014, the group operates Health City Cayman Islands in Grand Caymen. Emmanuel Rupert was made the MD & Group CEO in place of Ashutosh Raghuvansha following the latter's resignation in January 2019.[15] [16] From 2016 onwards, NH has increased its presence in New Delhi, Gurgaon and Mumbai, by opening premium multi specialty hospitals, in order to boost margins. In 2022, NH announced that it is looking to set up a 1000-bed advanced specialty hospital in Kolkata.[17]

Listing

Narayana Hrudyalaya was listed on the BSE and the NSE on 6 January 2016. Upon debut, the company was valued at over US$1 billion.[18]

Current facilities

India

North India

West India

South India

East India

Cayman Islands

Notes and References

  1. News: Narayana Hrudayalaya appoints new CEO, Viren Shetty is new Group COO. The Economic Times.
  2. News: How is Viren Shetty taking Narayana Health biz close to US shores?. Business Standard.
  3. Web site: I did not want to pursue medicine: Narayana Health COO Viren Shetty . 2023-07-04 . The New Indian Express. 16 December 2021 .
  4. Web site: Earnings Update Q4 FY24 and FY24 . Narayana Health . 13 June 2024.
  5. Web site: Narayana Health: Providing World-class Treatment to the Poor Forbes India. Forbes India. en-US. 2018-09-13.
  6. Web site: D A I J I W O R L D. daijiworld.com. 2018-09-13.
  7. News: Entrepreneurial Hospital Pioneers New Model. 2005-01-24. HBS Working Knowledge. 2018-09-13. en-us.
  8. News: 26 Heart Transplants and going strong. indiainfoline.com. 2018-09-13. en.
  9. News: Kiran Mazumdar-Shaw becomes second Indian to take the Giving Pledge. Ramanathan. Arundhati. 2016-06-01. Mint. 2018-09-13.
  10. Health City Cayman Islands Awarded JCI Accreditation. PR Newswire. en. 2018-09-13.
  11. Web site: Biggest Innovations: Narayana Health has successfully married affordability, quality health care. 2020-11-18. businesstoday.in. 9 May 2014 .
  12. News: Boom time for medicare. 2006-04-30. The Hindu. 2018-09-13. en-IN. 0971-751X.
  13. Web site: Devi Shetty's Narayana Healthcare: Men behind success of his low-cost hospitals. The Economic Times. 2018-09-13.
  14. Web site: Narayana Hrudayalaya History Narayana Hrudayalaya Information – The Economic Times. The Economic Times. 2018-09-13.
  15. News: Narayana Hrudayalaya appoints new CEO, Viren Shetty is new Group COO. The Economic Times. 2020-11-12.
  16. Web site: Samuel . Joe V . 31 March 2021 . Retail Equity Research (South India Focus): Narayana Health Ltd . 27 April 2022 . Business Standard . Geojit .
  17. Web site: Medical Dialogues Bureau . 2022-04-22 . Narayana Health founder Devi Shetty reveals plan to launch 1000 bedded Super specialty hospital in Kolkata . 2022-04-27 . medicaldialogues.in . en.
  18. Web site: Narayana Hrudayalaya's market cap crosses $1 billion on market debut – Forbes India. Forbes India.
  19. News: Narayana Health buys Westbank Hospital . The Times of India. 2018-09-13.